Macau Legend has reduced its losses in 2022 by 48% from the previous year, reaching HK$607.2 million ($77.35 million). However, the company is concerned about its debt, which could cast doubt on its ability to continue as a going concern. The group saw a drop in gaming revenue in Macau by 43.4% in 2022, primarily due to the expiration of the service agreement between Macau Legend and SJM. Macau Legend has applied for waivers for creditors, with the waivers valid until December 31st, and expects to apply for extensions or amend its loan repayment terms. The group is focused on upgrading dining and entertainment offerings at Macau Fisherman’s Wharf and is optimistic about seizing opportunities for recovery when the tourism industry rebounds.

The Massachusetts Gaming Commission has approved new sports betting advertising and marketing regulations that will come into force from April 14th. The regulations mandate sports betting firms to prevent individuals under 21 from being exposed to their advertising and marketing on social media and related TV platforms such as Hulu or YouTube TV. The rules also prohibit operators from paying spokespeople to encourage bettors to place a certain type or quantity of wager, and mandate that paid social media influencers and other endorsers disclose payments they receive from betting firms. Additionally, companies will not be allowed to enter into marketing agreements “in exchange for a percentage of net sports wagering revenue earned from users that the third party directs or causes to be directed to […]

Las Vegas sportsbooks saw an increase in business during the recent NCAA Men’s College Basketball Championship, particularly during the West Regional Championship played at the T-Mobile Arena on the Strip. Fans from the participating schools crowded into sportsbook venues to place wagers on their favorite teams, providing a boost to sportsbook operators. Analysts predict that March Madness will generate $4.5 billion in sports wagers throughout North American sportsbooks once the men’s tournament concludes this weekend in Houston, with parlay wagering included. The NCAA has changed its position on sports betting and Las Vegas, with nonconference college football games now played annually at Allegiant Stadium and the NCAA announcing that the 65,000-seat venue will host the Final Four in 2028.